Agenda item

Report of the Managing Director.

The Cabinet Member with the Resources Portfolio introduced the report of the Managing Director (previously circulated) presenting the revenue outturn 2019/20 (subject to Audit), to allow Members to consider the results in light of the Council’s Medium Term Financial Plan (MTFP) and also to consider the Collection Fund and Housing Revenue Account outturn.

The submitted report stated that the latest projection showed an overall improvement against the 2020/21 MTFP of £0.751m; £0.477m was required to fund the council tax collection fund deficit leaving £0.274m available for utilisation; outlined variances from the original budget along with changes since the quarter three position; stated that there were a number of carry forward requests totalling £0.466M; and that although the Coronavirus pandemic had had a significant impact on the Council’s financial position in the Revenue Budget Quarter One 2020/21 report (see Minute C16 below) there was limited impact on the 2019/20 outturn, other than lost income from the leisure and culture facilities.

RESOLVED - (a)  That the revenue outturn for 2019/20, as detailed in the submitted report, be noted.

(b)  That the proposed carry forward of resources referred to in paragraphs 19 to 21 of the submitted report, be noted and approved.

(c)  That £0.477m be earmarked against general fund reserves to fund the council tax collection fund deficit.

(d)  That the earmarked reserves, requested in paragraphs 28 to 33 of the submitted report, be approved.

REASONS - (a)  To continue effective management of resources.

(b)  To continue to deliver services to agreed levels.